Serangoon North Avenue 1 site attracts 16 bids

Location of the land parcel at Serangoon North Avenue 1. (Photo: URA) The tender for a residential plot at Serangoon North Avenue 1 closed on Thursday (27 July) after drawing 16 bids, said the Urban Redevelopment Authority (URA). Corson and Wingjoy Investment, entities of Keppel Land and Wing Tai, submitted the top bid of $446.28 million for the approximately 185,022 sq ft site. This works out to a land rate of about $965 psf per plot ratio. FCL Residences was the second-highest bidder with $418.7 million, followed by a joint offer of $417.2 million from Singland Homes and UOL Venture Investments. Launched for sale on 30 May under the first half 2017 Government Land Sales programme, the 99-year leasehold site could yield more than 500 homes. SEE ALSO: URA launches 3 residential sites, could yield 1,955 homes The Chomp Chomp Food Centre, Serangoon Garden Market and Nex shop...